There are an estimated 25 million lockers in America and few protections for customers. There is no federal law regulating boxes; There are no rules requiring banks to compensate customers if their property is stolen or destroyed. Credit. The Getty Images Wells Fargo Locker Rental Terms govern the lease, rights, and obligations of your locker and are the rental terms set forth in the locker rental agreement you signed when renting your box. Read the following PDF for important legal information, disclosures, and terms you need to know. Filmmakers like lockers much more than bank managers. On film, they are an indispensable tool for spies – Jason Bourne, for example, went to fetch money and passports from a Swiss box using a device implanted in his hip – and a magnet for cunning thieves. Cinematic burglars attacked highly secure safes by digging a tunnel (“The Bank Job”), piercing a wall (“Sexy Beast”), disabling alarms (“King of Thieves”), taking hostages (“Inside Man”) or simply blowing doors (“The Dark Knight”). New Jersey law requires a bank to seal an independent notary when it opens and empties a locker, and places the contents of the box in a sealed package signed by the notary.

The disappearance of coins and watches suggests that Wells Fargo – which in recent years has admitted to systematically snatching customers with fake accounts, hidden fees and a host of unwanted and unnecessary financial products – has not complied with this law. Or say you`re lucky and find a good deal on a last-minute trip to Europe. It`s after 5 p.m.m. on a Friday, the flight is on Saturday morning and your bank only reopens on Monday; You have no chance of keeping your passport in your safe. It is best to keep it secure in a safe at home. Heritage jewelry, a first-marriage wedding ring, rare pieces, and similar valuables are good candidates for a locker – but only if they are properly insured. The FDIC does not insure the contents of a locker or the bank itself, unless otherwise stated in your agreement. Wells Fargo, for example, explicitly states that the contents of the box are not insured and advises box owners to “purchase an appropriate policy from the insurance company of your choice.” “My impression of the lockers was that it was like parking things at Fort Knox,” he said.

“Nothing could happen to him.” He doesn`t think that anymore. Banks are increasingly viewing lockers as a headache than they are worth. They are expensive to build, complicated to maintain and not very lucrative. .